TIN No Longer Required to Open Bank Accounts
Picture: PMO
Prime Minister Tarique Rahman on Monday announced the withdrawal of the mandatory Taxpayer Identification Number (TIN) requirement for opening bank accounts and executing certain legal documents. He also proposed raising the tax-free income threshold for individual taxpayers to Tk 400,000.
The announcements came during a special speech in Parliament on the day the Finance Bill was passed.
The prime minister said the proposed budget had required students and several other groups to submit a TIN to open bank accounts. It also proposed making TIN mandatory for registering inheritance deeds and completing property mutation documents.
Noting that the proposed requirements had caused public confusion, Rahman urged the finance and planning minister to withdraw the provisions.
He also proposed increasing the tax-free income threshold from the previously proposed Tk 375,000 to Tk 400,000, giving individual taxpayers greater tax relief.
During his address, the prime minister said the government aims to build a revenue ecosystem in which taxpayers voluntarily pay taxes and take pride in contributing to the country’s development.
He said the decision was intended to ease the tax burden on individual taxpayers and provide greater financial relief.
Tarique Rahman also proposed gradually increasing the tax-free income threshold in the coming years. Under the proposal, the threshold would remain Tk 400,000 for the 2026–27 tax year, rise to Tk 450,000 for the 2028-29 and 2029-30 tax years, and increase further to Tk 500,000 for the 2030-31 tax year.
